Changes in the budget means most first time buyers will not pay stamp duty but the OBR expects house prices to rise instead.
Read More
Category Archives: Stamp duty land tax
Higher house prices and stamp duty mean the cost of moving home in London has risen to £32,092 or 47% higher than a decade ago.
The number of home movers has reduced by -2% creating a shortage of properties for first time buyers and higher prices.
Home buyers start the year strongly with mortgage lending of £8.9 billion in February which is an increase of 7% over the month.
The Treasury is to give the Bank of England powers to limit lending to the growing buy-to-let mortgage market to protect the financial system.
Prices for luxury homes in London are expected to fall by 9% in a year due to stamp duty tax and EU referendum, says Savills.
The rate house prices are rising has slowed ahead of the EU Referendum with greater uncertainty expected from the Brexit vote.
There has been a 20% fall in demand for new-build homes and interest in the London housing market due to the EU Referendum.
Homeowners borrowed £8.2 billion for the month to April 2016 down £5.4 billion or 40% after a significant rise in mortgage activity last month.
Strong growth in house prices for London up 14.5% for the year with higher prices for the South East of England and mixed UK results.